Why CACI International (CACI) Stock Is Falling on Thursday

NEW YORK (TheStreet) -- CACI International (CACI) is dropping on Thursday after management issued downwardly revised earnings and revenue guidance for fiscal 2014.

Shares had taken off 4.5% to $71.21 by early afternoon. Trading volume of 1.1 million was more than double its three-month daily average.

In a statement, the national security tech specialist said it had experienced delays in contract awards for new business, lower run-rates on professional services contracts and a reduction in Afghanistan-related revenue.

For the full-year ending June, the company said it expects revenue between $3.5 billion and $3.6 billion, lower than previous guidance for $3.65 billion to $3.8 billion.

Net income is expected in the range of $5.12 to $5.51 a share. Management had previously guided for $5.59 to $5.98 a share.

Analysts surveyed by Thomson Reuters forecast earnings of $5.78 a share and revenue of $3.71 billion.

CACI International will release its third-quarter results on April 30 after market close.

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TheStreet Ratings team rates CACI INTL INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CACI INTL INC (CACI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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